Tourism Finance Corporation of India Limited (TFCILTD) Stock - Complete Technical Analysis - Sep 02, 2024

TFCILTD Stock Analysis: Key Support, Resistance Levels

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Let's delve into the technical analysis for Tourism Finance Corporation of India Limited (TFCILTD). The current trading price of TFCILTD is 179.13, showing it is significantly 33.05% below its 52-week high of 267.55, achieved on February 26, 2024, while it is 97.17% above its 52-week low of 90.85, recorded on the same day last year.

Support and Resistance Levels:

Support Levels: Key support levels are indicated by the Classic Pivot S1 at 164.78, Fibonacci Pivot S1 at 169.1, and Camarilla Pivot S1 at 176.01.

Resistance Levels: Significant resistance points include Classic Pivot R1 at 194.33, Fibonacci Pivot R1 at 191.68, and Woodie Pivot R1 at 191.88.

Moving Averages: The stock's current price is below most of its moving averages, suggesting bearish momentum. The Exponential Moving Averages (EMAs) are showing a resistance cluster around 181.06 for the 10-day EMA and 182.44 for the 30-day EMA. The Simple Moving Averages (SMAs) also reflect this bearish trend with the 50-day SMA at 188.6 being notably higher than the current price.

Pivot Points: The Classic Pivot P is at 180.39, aligning with Fibonacci and Camarilla pivots, indicating a critical juncture. If TFCILTD can cross this level, the next resistance could be at R1 and R2 levels.

Technical Indicators:

MACD: The MACD is negative, suggesting bearish momentum.

RSI: The Relative Strength Index is at 47.05, indicating that the stock is neither overbought nor oversold but is leaning towards bearish conditions.

ADX: The Average Directional Index is low at 16.33, suggesting weak trend strength.

Stochastic Oscillator: The %K and Stochastic RSI are both below 50, indicating a bearish outlook.

Chart Patterns and Observations:

Volume Weighted Moving Average (VWMA): At 181.72, it confirms the resistance at this level.

Hull Moving Average: At 178.74, indicating that short-term bearish pressure is present.

In summary, TFCILTD is facing resistance around the 180 to 182 range and has crucial support around 164 to 176. The current technical indicators suggest a bearish trend with limited momentum strength. Traders should watch the price movement around these pivotal levels for potential trading opportunities.